Published 1 year ago

Oil industry in Pakistan on verge of ‘collapse’ amid liquidity crisis

Summary by Ground News

Oil companies in cash-strapped Pakistan have warned that the industry is on the ''brink of collapse'' as the dollar liquidity crisis persists. The government removed the dollar cap to meet the International Monetary Fund's (IMF) demand which resulted in the Pakistani rupee falling to a historic low.

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Times of India

Oil industry in Pakistan on verge of ‘collapse' amid liquidity crisis

Pakistan News: Oil companies in cash-strapped Pakistan have warned that the industry is on the "brink of collapse" as the dollar liquidity crisis persists and their

1 year ago·India

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News18 India

Oil Industry in Pakistan on Verge of 'Collapse' Amid Liquidity Crisis

Oil companies in cash-strapped Pakistan have warned that the industry is on the ”brink of collapse” as the dollar liquidity crisis persists and their cost of doing business balloons due to the rupee’s devaluation. Pakistan is facing a balance of payments crisis and the plummeting value of the local currency is pushing up the price of imported goods.

1 year ago·India

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Indian Express

Oil industry in Pakistan on verge of ‘collapse’ amid liquidity crisis

In a letter to the Oil and Gas Regulatory Authority (OGRA) and Energy Ministry, the Oil Companies Advisory Council (OCAC) said that the "sudden depreciation" of the rupee has caused losses worth billions of rupees to the industry as their letters of credit (LCs) are expected to be settled on the new rates, "whereas the related product has already been sold", it said.

1 year ago·India

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ABP News

Pakistan Economic Crisis: Oil Industry Warns Of 'Collapse' Amid Ongoing Liquidity Crisis

Pakistan Crisis: The country's economy has completely collapsed. Foreign currency reserves are in short supply, & cash-strapped oil companies have warned that the industry is on the edge of collapse.

1 year ago·India

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India Today

Oil industry in Pakistan on verge of ‘collapse’ amid liquidity crisis

Amid the ongoing dollar liquidity crisis, oil companies in cash-strapped Pakistan warned that the industry is on the "brink of collapse".

1 year ago·India

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Ommcom News

Pakistan's Oil Industry Faces Collapse Amid Liquidity Crunch

Islamabad: Pakistan's oil companies have warned that the industry is on the "brink of collapse" as the dollar liquidity crisis persists and their cost of

1 year ago·Bhubaneswar, India

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